Big names and new investors entered the sustainable energy field recently, but few can match EPTP’s 20 years of sector experience. EPTP currently manages energy investments on behalf of Blackrock.
Energy Capital Partners called for help on taking Calpine private. Calpine is the largest generator of electricity from natural gas and geothermal resources in the U.S. Value has been created through facilitated monetization of specific assets. And as predicted, Calpine’s unique asset portfolio benefitted from the electrical market’s recovery.
Investment: $159m
Signed/Closed: August 2017 / March 2018
ESG Impact: Calpine’s geothermal portfolio supplies enough reliable renewable electricity to power over 745,000 California homes.
Our global LNG analysis and long-standing relationships with NextDecade’s CEO enabled us to engage early with the project sponsor on a bilateral basis. Our team facilitated high-level meetings across the Middle East and Asia. During our ownership, NextDecade has developed a proprietary CCS approach to delivering net zero carbon LNG globally.
Investment: $29m
Signed/Closed: August 2018 / September 2018
ESG Impact: The coal-released CO2 displaced by NextDecade’s natural gas exports equal the greenhouse gases saved by 14,500 wind turbines.
EPTP spent a year working with Mountain Capital to acquire Bedrock Energy Partners from Enervest Fund XII. We created a package of gas-weighted upstream producing assets with additional drilling locations concentrated in the Barnett Shale. By installing an independent management team and leveraging our extensive hedging experience, EPTP assisted in managing Bedrock’s commodity exposure.
Investment: $30m
Signed/Closed: July 2017 / December 2017
ESG Impact: The amount of coal-released CO2 that Bedrock’s natural gas displaces equals the greenhouse gases from 250,000 cars.
Prior to Blackrock, EPTP founder Pat Eilers spent a decade overseeing Madison Dearborn Partners’ energy, power, and chemicals practices. During that time, he deployed $862 million of MDP capital, returning $1.9 billion total. His key investments included First Wind, US Powergen, and Magellan Midstream Partners.
After studying the rapidly emerging renewables sector and selecting the lowest levelized cost of energy (LCOE) generation technology, we canvassed the country for wind developers. We partnered with First Wind, helping them grow to become the U.S.’s second largest independent wind developer over our nine-year investment period. We capitalized their development platform and helped hedge and finance their individual wind farms. Additionally, we secured a Department of Energy loan guarantee and issued the renewable industry’s first high yield note.
Investment: $411m
Signed/Closed: February 2006 / April 2006
ESG Impact: First Wind’s solar and wind portfolio supplies enough renewable electricity to power over a million homes.
Given a long-standing relationship with The Williams Company, MDP offered to acquire Williams Energy Partners on a bi-lateral basis. After acquiring 100% of the General Partner and 56% of the Limited Partner public units, we helped identify acquisition targets and provided a unique GP one-time give back to afford accretion to the LP units as we realized acquisition synergies.
Investment: $165m
Signed/Closed: March 2003 / June 2003
ESG Impact: We displaced CO2 by keeping refined product transportation trucks off the road.
After identifying a portfolio of three power plants in the highly constrained Zone J of NYC, we placed a heat rate call option to hedge the plants’ energy output and a capacity hedge to lock in their capacity revenues to underpin a structured finance solution at acquisition.
Investment: $283m
Signed/Closed: October 2005 / February 2006
ESG Impact: US Powergen’s natural gas-fired facilities displaced diesel gensets, eliminating greenhouse gas output.
